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Problem 10. Calculating Loan Payments. You want to buy a new sports car for $95,000 and the dealership has quoted you a loan with an

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Problem 10. Calculating Loan Payments. You want to buy a new sports car for $95,000 and the dealership has quoted you a loan with an APR of 5.3 percent for 60 months to buy the car. What will your monthly payments be? What is the effective annual rate on this loan? [4 pts]

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